Wonnacott left Sotheby's in January 2003 after 25 years, in order to concentrate on media activities and, at the same time, started the fine art agency and brokerage business "Tim Wonnacott & Associates". The rationale of the business is for Wonnacott and his colleagues to provide independent advice to both buyers and sellers of antiques.

In October 2004, Wonnacott took part in what is believed to be the world's largest public art auction when 63 fibre-glass cows were put up for sale outside Manchester's Town Hall. Proceeds were to be donated to local charity, Manchester Kids.[3]

In July 2003, Wonnacott replaced David Dickinson as the daytime host of the popular BBC One television programme, Bargain Hunt.[4] The original contract was for 30 shows, but this has been extended to over 350 shows in the light of his appeal to viewers.

Wonnacott is also the narrator of the TV show Antiques Roadtrip. The concept involves two experts driving around the country in a classic car visiting antique shops and buying objects out of a starting budget of £300. The items that are purchased are sold by auction at the end of each episode with the resulting profits or losses rolled over until the road trip comes to an end, usually after 5 days - when the person with the most money is deemed the winner. A celebrity version is also produced, in which only one auction is featured and there is no "roll-over".

On 29 August 2014, Wonnacott was announced as a contestant on the twelfth series of Strictly Come Dancing. He was partnered with Australian dancer Natalie Lowe. The couple were eliminated in week 4, after dancing the Paso Doble, in favour of Mark Wright and Karen Hauer staying in the competition.

Wonnacott was born in in March 1951[1] in Barnstaple, North Devon, England.[5] He was brought up in Devon.[6] His father was Major Raymond Wonnacott, a well-known local auctioneer. Wonnacott had one brother, who died in the late 1960s.[2]